Amundi Grows Stake in Independence Realty Trust, Inc. (NYSE:IRT)

Amundi grew its stake in Independence Realty Trust, Inc. (NYSE:IRT) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,544 shares of the real estate investment trust’s stock after acquiring an additional 597 shares during the quarter. Amundi owned about 0.05% of Independence Realty Trust worth $2,304,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. HM Payson & Co. lifted its holdings in shares of Independence Realty Trust by 119.8% in the 4th quarter. HM Payson & Co. now owns 3,978 shares of the real estate investment trust’s stock valued at $79,000 after buying an additional 2,168 shares during the period. Raymond James Financial Inc. purchased a new stake in Independence Realty Trust during the 4th quarter worth approximately $12,105,000. Arizona State Retirement System boosted its holdings in shares of Independence Realty Trust by 3.5% during the 4th quarter. Arizona State Retirement System now owns 67,050 shares of the real estate investment trust’s stock worth $1,330,000 after purchasing an additional 2,240 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Independence Realty Trust during the 4th quarter worth approximately $204,000. Finally, Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Independence Realty Trust by 5.9% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,015,292 shares of the real estate investment trust’s stock worth $20,143,000 after purchasing an additional 56,923 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Wall Street Analyst Weigh In

IRT has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $22.00 price objective on shares of Independence Realty Trust in a report on Tuesday, February 11th. Barclays decreased their price objective on Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Finally, Jefferies Financial Group upgraded Independence Realty Trust from a “hold” rating to a “buy” rating and upped their price objective for the company from $20.00 to $24.00 in a report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Independence Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

Independence Realty Trust Price Performance

NYSE:IRT opened at $20.97 on Monday. The firm has a market capitalization of $4.84 billion, a PE ratio of 116.49, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19. The business’s fifty day moving average price is $19.93 and its 200 day moving average price is $20.28. Independence Realty Trust, Inc. has a 12 month low of $15.23 and a 12 month high of $22.26.

Independence Realty Trust (NYSE:IRT) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, beating the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a return on equity of 1.11% and a net margin of 6.15%. As a group, equities analysts anticipate that Independence Realty Trust, Inc. will post 1.19 EPS for the current year.

Independence Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, March 28th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Friday, March 28th. Independence Realty Trust’s payout ratio is 355.56%.

About Independence Realty Trust

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.